Tax changes adopted in Hungary in autumn 2024
SME INFO Nr.2024-6 Hungary – The Autumn Tax Package 2024 brought quite a lot of changes, both major and little. This publication focuses on changes in tax laws, not comprehensively, as usual, but highlighting topics we consider important.
ESG reporting and sustainability report under Act on Accounting
PS SME Info Hu 2024-5: In this newsletter, two new standardized reporting obligations based on EU-adopted directives and standards, effective in Hungary from 1 January 2024 are reviewed: the ESG reporting and the sustainability report under the Act on Accounting.
Changes affecting Act on Accounting – Autumn 2024, Hungary
PS SME Info Hu 2024-4: In 2025 the amendments to the Act on Accounting do not contain any significant accounting changes, mainly some thresholds defining obligations or exemptions have been increased, and in addition, there are mainly additions and clarifications, including on the sustainability report and its audit. We also draw your attention the mandatory electronic invoicing and archiving of natural gas and electricity consumption, which will come into force from 1 January 2025 and will affect a wide range of businesses.
Changes of Act on Global Minimum Tax – Hungary, Autumn 2024
SME INFO Nr.2024-3 – In this newsletter on the current amendments to the Global Minimum Tax Act, we report on the two most important changes concerning the obligations of those subject to the global minimum tax, published in Gazette No. 119 on 28 November 2024, as part of the autumn tax package…
Payroll-related tax and labour law changes in Hungary – 2024 Autumn
SME INFO Nr.2024-2 Hungary – This publication focuses on the changes in tax law affecting payroll, as well as on some labour changes. As usual, our goal is, instead of issuing a comprehensive summary, to focus on the changes we consider significant.
Report on corporate income tax information
SME INFO Nr.2024-1 Hungary – Looking back at the Community directives adopted in previous years, it can be said that companies, established in the EU, increasingly face with harmonised reporting obligations across Member States. Several such reports have already been introduced in Hungary, such as the Country-by-Country (CbC) report to be submitted to the tax authority or the report on payments to governments to be published together with the annual accounts. In this publication, we review the latest corporate tax information reporting requirements, applicable for the first time for the financial year, starting on or after 22 June 2024.